North Lauderdale FHA Loans

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North Lauderdale FL FHA mortgages permit clients to obtain an easy loan for your home. The US federal government insures these mortgages via the FHA Department to enable home owners to obtain mortgages with limited conditions and to provide security to the lender. If a borrower defaults on his commitments, the mortgage insurance covers the loss of the lenders.

Pros of North Lauderdale FHA Home Mortgage Loans

With a low down payment of only 3.5% and its great terms of borrowing, North Lauderdale FHA mortgages are one of the best options for FTHB today. Even people with less than perfect credit history can simply opt for a North Lauderdale FHA loan.

Negatives Features of a North Lauderdale FHA Mortgage Loan

With the benefits of easy access comes the negatives that you will have to pay a little extra on your regular loan payments to cover the Mortgage Insurance.

Guidelines to Get Qualified for an FHA Home Mortgage Loan

In order to qualify for a North Lauderdale FHA mortgage loan, you must be a legal citizen of the Unites States with a steady job. Moreover, as the FHA only approves selected lenders for their loan insurance, you can’t process a loan application for a North Lauderdale FHA loan from every lender. Even after you locate the right loan from every lender, an FHA loan is only sanctioned if the house you wish to buy has been approved by the Federal Housing Administration.

Maximum Loan Amounts of a North Lauderdale FHA Loan

The limits of the mortgage loan amount vary from state to state and county to county, however, the general maximum loan limit is approximately $625,000.

How to Obtain a North Lauderdale FHA Mortgage Loan?

If you wish to request a North Lauderdale FHA loan, contact First Nationwide Lending, where we can provide you with more information regarding these mortgages and clarify your query to speed up the process of buying your new home.

 

Contact Us

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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